Tuesday, January 17, 2017

Enforceable smart card contracts

Savings and loans, anyone can open one in the sandbox, as long as the pit rules are honored. The usual pit boss rule might be that qualified clients run within 20% of amber. The human client agrees, with a thumb print, and the smart card will autotrade the S&L. If the human resets his color setting out of bounds, the card will not auto tradethe S&L, simple as that.

Under these conditions we can see thay all monetary risk is priceable, not gone. A safe S&L will implicitly avoid investments in long sequences of smart contracts, where the pay back takes that 'time' stuff. Hence, coin at risk, that is sudden borrowing, will, under round robin access, be backed by either depositors or the pit boss. The two sequences are rebalanced by amortization, creating the bit error that fractionally backs the coin at risk.

But the contract is enforced, the coin is coming back, either as a priced bankruptcy, shifts in digits between clients. It works, but we admit to the finite possibility the S&L will peter out, or smoothly go bankrupt, leaving the minimum amount of projected losses among clients.

The purpose of the S&L is to get the innovations into their appropriate containers, nothing more. Bakruptcy occurs when containers get stranded because a smart contract fails, the container algebra fails, usually degenerating.

The smart cards come with a bankruptcy procedure builtin, essentially a bankruptcy coin function that it uses to do a deal in bankruptcy court. It is part of the ownership agreement we sign we we get a pass in the sandbox, it is a fair trader.